1.08% depends. If it is the repayment method of equal principal and interest, it is really high. The monthly interest rate is actually doubled, which is 2. 16%, which is really high. If it is the repayment method in the average capital, it is actually not high.

Credit card installment interest is 0.75% per month, with equal principal and interest. If calculated according to the actual interest, the actual monthly interest of credit card installment is 1.5%. Do you think this interest rate is high?

However, in any case, the monthly interest rate of credit cooperative loans 1.08% is really outrageous. The annual interest rate of bank loans is now only 5-6. This loan should not be a formal bank loan, and the interest should be a small unsecured loan, which is made by a credit cooperative and a finance company.